There was low activity at the bourse during the past week, with most of the listed stocks not trading, the Rwanda Stock Exchange (RSE) daily market report indicates.

Both Bank of Kigali (BK) and Bralirwa counters were quiet yesterday, capping a week of low turnovers and inactivity.

Davis Gathaara, the managing director of Baraka Capital, a brokerage firm at the bourse, attributed the slow business to investors’ "wait and see” approach as they wait for new firm’s, Crystal Telecom to list at the exchange next month.

"People are waiting to buy into the companies that are coming to list this year,” he said.

After a successful Initial Public Offering (IPO) this month, Crystal Telecom will be listed at the RSE mid-next month, while I&M Bank Rwanda is still preparing its IPO this year.

Yesterday BK shares closed at Rwf295, unchanged from last Monday, while Bralirwa’s share price closed at Rwf 349, down from Rwf 358 a week ago.

The brewer traded 168,900 shares during the week, raking in slightly over Rwf 58.9 million.

No activity was recorded on the other cross-listed counters or listed bonds during the week.